Smead Capital Management Inc. Purchases 7,012 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Smead Capital Management Inc. raised its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,828 shares of the credit services provider's stock after acquiring an additional 7,012 shares during the quarter. Credit Acceptance comprises approximately 1.3% of Smead Capital Management Inc.'s portfolio, making the stock its 25th biggest holding. Smead Capital Management Inc. owned approximately 1.72% of Credit Acceptance worth $92,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CACC. nVerses Capital LLC bought a new stake in Credit Acceptance during the 2nd quarter valued at $51,000. Quest Partners LLC grew its position in shares of Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider's stock valued at $53,000 after purchasing an additional 119 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Credit Acceptance during the 1st quarter valued at $156,000. MQS Management LLC purchased a new position in shares of Credit Acceptance during the 1st quarter valued at $242,000. Finally, Headlands Technologies LLC grew its position in shares of Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider's stock valued at $257,000 after purchasing an additional 497 shares in the last quarter. Institutional investors own 81.71% of the company's stock.

Analysts Set New Price Targets

CACC has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. TD Cowen cut their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a research report on Friday, November 1st. Finally, Stephens started coverage on shares of Credit Acceptance in a research report on Wednesday, November 13th. They issued an "equal weight" rating and a $452.00 target price for the company.

Credit Acceptance Price Performance

NASDAQ:CACC traded down $0.96 during midday trading on Tuesday, hitting $445.00. The company had a trading volume of 95,572 shares, compared to its average volume of 58,961. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $616.66. The stock's fifty day moving average price is $449.56 and its 200-day moving average price is $482.02. The company has a market capitalization of $5.39 billion, a PE ratio of 29.89 and a beta of 1.42. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping the consensus estimate of $7.88 by $0.91. The business had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $10.70 earnings per share. As a group, research analysts expect that Credit Acceptance Co. will post 37.14 earnings per share for the current year.

Insiders Place Their Bets

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the sale, the insider now directly owns 74,450 shares of the company's stock, valued at $33,577,694.50. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.30% of the stock is currently owned by insiders.

Credit Acceptance Company Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.